Manulife Financial Correlations

MFC Stock

USD 30.51 0.31 1.01%

The current 90-days correlation between Manulife Financial Corp and Prudential Financial is 0.74 (i.e., Poor diversification). The correlation of Manulife Financial is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

Manulife Financial Correlation With Market

Poor diversification

The correlation between Manulife Financial Corp and DJI is 0.75 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Manulife Financial Corp and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Manulife Stock

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Manulife Financial Corp. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in census.

Moving together with Manulife Stock

0.64	LNC	Lincoln National	Pair Corr
0.89	MET	MetLife Earnings Call This Week	Pair Corr
0.67	PRI	Primerica	Pair Corr
0.73	PRU	Prudential Financial	Pair Corr
0.74	UNM	Unum Group Earnings Call This Week	Pair Corr
0.76	V	Visa Class A Earnings Call This Week	Pair Corr
0.67	AB	AllianceBernstein Earnings Call This Week	Pair Corr
0.75	AC	Associated Capital	Pair Corr

Moving against Manulife Stock

0.5	CIA	Citizens	Pair Corr
0.46	AFL	Aflac Incorporated Earnings Call This Week	Pair Corr
0.37	FG	FG Annuities Life	Pair Corr
0.53	PT	Pintec Technology	Pair Corr

Related Correlations Analysis

	PRU	MET	UNM	JXN	LNC	AFL	BHF	FG	MET-PA	BHFAP
PRU		0.9	0.71	0.84	0.81	-0.39	0.18	-0.55	0.41	0.17	PRU
MET	0.9		0.8	0.84	0.81	-0.45	0.49	-0.57	0.54	0.32	MET
UNM	0.71	0.8		0.71	0.79	-0.37	0.36	-0.48	0.73	0.1	UNM
JXN	0.84	0.84	0.71		0.94	-0.58	0.04	-0.64	0.51	-0.14	JXN
LNC	0.81	0.81	0.79	0.94		-0.5	0.09	-0.58	0.63	-0.18	LNC
AFL	-0.39	-0.45	-0.37	-0.58	-0.5		0.0	0.67	-0.49	0.08	AFL
BHF	0.18	0.49	0.36	0.04	0.09	0.0		-0.02	0.27	0.76	BHF
FG	-0.55	-0.57	-0.48	-0.64	-0.58	0.67	-0.02		-0.53	0.21	FG
MET-PA	0.41	0.54	0.73	0.51	0.63	-0.49	0.27	-0.53		-0.02	MET-PA
BHFAP	0.17	0.32	0.1	-0.14	-0.18	0.08	0.76	0.21	-0.02		BHFAP
	PRU	MET	UNM	JXN	LNC	AFL	BHF	FG	MET-PA	BHFAP

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

LNC	+ 0.94	JXN
MET	+ 0.9	PRU
JXN	+ 0.84	PRU
JXN	+ 0.84	MET
LNC	+ 0.81	PRU
LNC	+ 0.81	MET

High negative correlations

FG	- 0.64	JXN
FG	- 0.58	LNC
AFL	- 0.58	JXN
FG	- 0.57	MET
FG	- 0.55	PRU
MET-PA	- 0.53	FG

Risk-Adjusted Indicators

There is a big difference between Manulife Stock performing well and Manulife Financial Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Manulife Financial's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
PRU	1.07	(0.12)	(0.06)	0.04	1.35	(1.07)	2.40	(2.40)	7.48
MET	1.00	(0.07)	(0.04)	0.07	1.22	(0.98)	2.36	(2.08)	6.85
UNM	1.14	(0.08)	(0.05)	0.05	1.42	(1.08)	2.14	(2.09)	7.21
JXN	1.55	0.11	0.09	0.22	1.58	(1.75)	3.18	(3.41)	9.16
LNC	1.40	0.02	0.04	0.15	1.40	(1.52)	3.57	(2.83)	8.86
AFL	0.90	(0.07)	0.00	0.56	0.00	0.00	1.49	(2.00)	7.94
BHF	1.79	(0.19)	(0.05)	0.00	2.70	(1.80)	4.10	(4.61)	14.77
FG	1.62	(0.08)	0.00	0.42	0.00	0.00	3.09	(4.17)	16.98
MET-PA	0.45	0.04	(0.09)	0.31	0.51	(0.47)	0.86	(0.98)	3.25
BHFAP	1.37	(0.32)	0.00	(0.80)	0.00	0.00	2.12	(3.87)	9.87

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